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What happens when personal and business taxes are reduced?
People and businesses pay less taxes.Government deficits and borrowing grow.Sometimes the extra money that people and businesses have is spent, sometimes it is invested. When the money is spent, it generates additional sales and property taxes. When it is invested it can generate additional income which can result in additional taxes.Whether the additional taxes generated by the additional spending or investment are more or less than the amount that the taxes were reduced by is a very controversial issue. Under the right total combination of circumstances, the additional economic activity can generate more taxes and more than make up for the reduced taxes. Under the wrong combination, it can cause deficits, infrastructure neglect, increased government borrowing and a general economic downturn. You can never predict the future of the economy by looking at just one factor.
The difference between direct taxs and indirect taxs and give examples of each?
The difference between direct taxes and indirect taxes with examples is that direct taxes come directly from a person's income or personal property taxes. Indirect taxes comes from sales and excise taxes.
What is the between local and national taxes?
State taxes, usually State Income Tax
What is the difference between income taxes and state taxes?
Income taxes are taxes paid based on the amount of your wages and other forms of income, including but not limited to investment income, pensions, interest and dividend income, business income, rental income, etc. Income taxes are assessed by and paid to the federal government and, depending on where you live, also state and local governments. State taxes can come in many forms, including not only income taxes, but also property taxes, sales taxes, use taxes, excise taxes, business taxes, etc.
What is the difference between a W2 and a W4 form?
The W$ form is your request for the withholding of taxes from pay. The W2 is a statement of wages paid and taxes withheld.
What was the connection between the three fifths and taxes?
3/5s of all slaves were counted to figure out how much states owed the federal government in taxes
Why are budget deficits and trade deficits sometimes called the twin deficits?
Twin deficits or double deficits is a summary of the two related economic problems, the budget deficit and the international trade deficit. The budget government deficit is the difference between government revenue and it's spending. Both deficits occur when someone is spending more than they earn.
What was the connection between the the three-fifths compromise and taxes?
3/5s of all slaves were counted to figure out how much states owed the federal government in taxes
What was the connection between three-fifths compromise and taxes?
3/5s of all slaves were counted to figure out how much states owed the federal government in taxes
What is the difference between the National debt and the budget deficit?
Budget deficit is how much we spend per year over what we take in from taxes. National debt is the total amount the nation owes (the deficits added together).
What is the current highest bracket for personal income taxes?
what is the probable result called when the government attempts to cover large deficits by creating more money
What is the connection between immigration and urbanization?
what is the connection between urbanization and Immigration
How do you put connection in a sentence?
i can not see the Connection. Do you feel the Connection with this place?
Is there a connection between a metalloid and a semiconductor?
What is the connection between a metaloid and a semiconductor
The synapse is a connection between what?
A synapse is the connection between a dendrite and an axon.
Is there a connection between cystic fibrosis and cholera?
Yes there is connection between them!!
5. What was the connection between the Three-Fifths Compromise and taxes?
No connection between the two. The three fifths addressed the slave population count in relationship to counting the population to determine the number of elected representatives in the house. The smaller states were afraid that the larger slave holding southern states would use their slave populations to control the legislative process in the house. Taxes were addressed in the 16th amendment by allowing congress to levy an income tax.
